01 Jun '11, 9pm

Schneider Electric Buys Software Company Telvent for $2B

French power equipment company Schneider Electric (SU.PA) is buying smart grid company Telvent (Nasdaq: TLVT) for roughly $2 billion to strengthen its portfolio in the growing smart grid sector. This is the second billion-dollar deal in as many weaks, marking a consolidation in the smart grid sector. Last week Toshiba confirmed its purchase of smart meter company Landis+Gyr for $2.3 billion. Telvent's software allows real-time management of critical infrastructure in many industries: electricity, agriculture, oil & gas, water and transportation. The company is based in Madrid, Spain. Schneider will integrate Telvent's software platform into its own platform to offer a comprehensive service that provides operation management for efficient infrastructures. It will also double Schneider's overall software development competencies and enhance its IT integration and software se...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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